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Using Efficiency Ratios to Improve Inventory Turnover

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In 2015, Target took a $5.4 billion writedown as it closed 124 stores in a failed bid to enter the Canadian market.  This lead to a C-Level shuffle to try and get out of the slump. Even after the closure, Target is still facing inventory issues at its US stores. At Walmart the news is no better, with increasing challenges ... Read More »

Top 7 Roadblocks Inventory Managers Face

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Inventory managers have an overall goal to ensure that their warehouse operations are flowing efficiently with individual items in and out of existing inventory. More specifically, you want to control all the inventory so your unit numbers don’t become too high or conversely too low to the point that your company’s business will come to a complete halt. Great inventory management ... Read More »

How Topgolf Revolutionized Their Supply Chain

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Needless to say, a bowling alley that doesn’t have enough bowling balls or shoes to go around each night won’t have many repeat customers. Yet when people visit an entertainment venue for an evening out or on a weekend trip, they rarely think about how the company in charge of that venue ensures that when they arrive, the activities advertised ... Read More »

What Are Some Different Types of Barcode Labels?

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Businesses, organizations and institutions across a myriad of industries, from warehousing to medicine to local government offices, have begun to embrace the versatility and reliability of barcode labels. Barcodes are a great low-cost technology for data collection, whether it’s for inventory or asset management, ticketing, retail, patient identification, advertising and so much more. The only question is, what kind of ... Read More »

Why Chaotic Storage Is Perhaps the Best Inventory Management System

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When people think of an organized warehouse, they likely imagine rows and rows of meticulously managed shelves, featuring groupings of similar items in alphabetical or price order. Yet thanks to an automated inventory management system powered by barcodes and barcode scanners, one of the biggest retailers in the history of the world runs its warehouses with a system called “chaotic ... Read More »

The Best Companies Move Beyond Spreadsheets

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In a perfect world, everyone would use automated inventory management software to track when new shipments come in, when orders need to go out and every step in between. Many companies, however, have chosen to stick with manual processes, such as adhering to Excel spreadsheets, either because they don’t view their current method as problematic or they don’t see marked ... Read More »

5 Things Business Owners Need to Know About Inventory

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Inventory management is the tracking and organizing of a company’s inventory, everything from the raw materials to the work-in-progress goods to the final product that sits on retail shelves or gets delivered to a customer’s home. Traditionally, business owners used manual processes such as filling out Excel spreadsheets and completing audits with pen and paper to satisfy management requirements; today, ... Read More »

What Are the Benefits of Barcode Labels?

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Barcodes are not just for use at the check-out counter when you’re buying groceries: This simple, decades-old technology has become more popular in recent years and is now one of the most widely used organizational building blocks across all businesses and industries. Whether you’re a business owner looking to upgrade your company’s supply chain management system due to unnecessarily high holding ... Read More »

Is It Really Possible to Run A Flexible, Smart Warehouse?

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Let me tell you a tale of Amazon’s warehouse. With the world’s most nimble infrastructure, online retail giant Amazon.com has built an enormous transfer of things from one person or place to another, possibly the biggest in the world. In fact, its distribution and logistics platform can now even deliver purchases within hours in some locations to members of its ... Read More »

5 Overlooked Costs of Ignoring Inventory Management

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Investing in inventory management software to replace manual systems saves small businesses’ money by eliminating these little-known costs. Inventory management is not sexy, but it wasn’t a beautiful interface or a compelling marketing scheme that helped Amazon become the world’s biggest retailer. The Washington-based company went from an online bookstore to a jack-of-all-trades giant thanks to its grand vision, one ... Read More »